§ Mr. MeacherTo ask the Secretary of State for Transport (1) what is his estimate of the proportion of Railtrack's current access charges that reflects the cost of depreciation and the amount in pounds that this represents; and if he will give his estimate by train operating unit for the current financial year; [32686]
(2) what is the intended relationship between depreciation of Railtrack's assets as measured by the modern equivalent asset value convention and future replacement expenditure plans; and if he will place in the Library the written guidance given to Railtrack on that relationship. [32682]
§ Mr. WattsRailtrack's access charges are subject to the approval of the rail regulator. The way in which they were set is explained in the policy statements on charges he issued earlier this year.
It is not possible to disaggregate the amount allowed in access charges for asset renewals between train operating companies.
§ Mr. MeacherTo ask the Secretary of State for Transport what is his estimate for the financial years 1994 –95 and 1995 –96 of the proportion of total subsidy to the train operating companies returning to Railtrack as track access charges, and the amount of pounds that this represents. [32683]
§ Mr. WattsGrant from the franchising director to the train operating companies in respect of services provided in 1994 –95 was £1,748 million. It is estimated that the grant will be £1,610 million in 1995 –96. This represents just one of the sources of revenue with which train operating companies cover their costs, including track access charges levied by Railtrack.
Track access charges levied by Railtrack in 1994 –95 were £1,923 million. Final access charges for 1995 –96 have yet to be approved.
§ Mr. MeacherTo ask the Secretary of State for Transport what categories of asset have been excluded from valuation under the modern equivalent asset valuation convention employed in determining depreciation costs for Railtrack; and what is the current market value of those assets. [32684]
§ Mr. WattsThe estimate of current cost depreciation used by the rail regulator when he set Railtrack's access charges took account of the accounting policies adopted by the British Railways Board. These policies are set out in BR's published accounts for 1993 –94.